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Saudi Aramco Wants 70Pct of $300Bln Supply Chain Spend to Be Local by 2021
(Tuesday, December 01, 2015) Saudi Aramco wants to double to 70 percent the amount of goods and services it sources from the local market by 2021 as the kingdom's oil giant outlined plans to spend $300 billion on its supply chain in the next 10 years, its chief executive said.
Chinese Firm to Deploy Honeywell MTO Process
(Tuesday, December 01, 2015) Honeywell announced Tuesday that LUXI Chemical Group Co., Ltd. selected Honeywell process technology and automation controls to convert coal to key ingredients used to make plastics.
Linde Says Petrochemicals Sector Shies Away from Investments
(Tuesday, December 01, 2015) Linde's customers in the petrochemicals sector are hesitant to make investment decisions, hurting the German industrial group's business, its chief executive said.
Shell Chemical to Add AO Production at Geismar Site
(Monday, November 30, 2015) Shell Chemical LP Monday announced the final investment decision to increase Alpha Olefins (AO) production at its chemical manufacturing site in Geismar, Louisiana, making the site the largest AO producer in the world.
Mexico's Pemex Inks Deal with Global Water Development Partners
(Monday, November 30, 2015) The partnership will focus on storage and residual water treatment projects at Pemex oil production areas both onshore and offshore as well as at refineries and petrochemical plants, the statement said.
Iran Gives Investors Glimpse of $30 Billion in Oil Deals to Come
(Sunday, November 29, 2015) Iranian officials presented the projects at a two-day conference in Tehran as part of an effort to attract more than $100 billion to revive the energy and petrochemicals industries.
Saudi Aramco to Invest More in Indonesia's Oil and Gas Sector
(Sunday, November 29, 2015) Saudi Aramco is looking for further investment opportunities in Indonesia's downstream refining and petrochemicals industry, the company's CEO said on Thursday, after initiating a $5.5 billion project to upgrade the country's largest refinery.
Oman Completes $4.5B Contract Talks for Plastics Complex
(Wednesday, November 25, 2015) State-owned Oman Oil Refineries and Petroleum Industries say it has finalized negotiations with preferred bidders for $4.5 billion worth of contracts to build a major plastics complex in the sultanate.
Kuwait's Petrochemical Industries Co Close to Signing India Deal -CEO
(Wednesday, November 18, 2015) Kuwait's Petrochemical Industries Company (PIC) is close to signing a deal to acquire 45 percent of the OpaL chemical factory in India, the company's chief executive told state news agency KUNA on Wednesday.
BP Seeks to Divest Alabama Petchem Facility
(Tuesday, November 17, 2015) BP has decided to market for sale its Decatur, Ala., petrochemicals complex as part of a broader reorganization of the company’s global petrochemicals business.
Sasol Reports Progress on $8.9B Louisiana Ethane Cracker Project
(Tuesday, November 17, 2015) Sasol last week released a status update on its $8.9 billion ethane cracker and derivatives complex and the company's progress toward its Louisiana First strategy, nearly one year after announcing final investment decision.
Indian Oil to Expand Panipat Naphtha Cracker Capacity
(Friday, November 13, 2015) Indian Oil Corp plans to expand capacity at its naphtha cracker in Panipat to 1.2 million tonnes per year (tpy) by 2019, the executive director of the refiner's petrochemical division said.
EU's Free Carbon Permit Allocation Too Generous-Court Adviser
(Thursday, November 12, 2015) An adviser to Europe's highest court said on Thursday the European Commission's calculations meant it had handed out too many free carbon permits to some industries, raising the prospect of higher costs for big energy users.
Enterprise Adds Ethane Export Contract for Morgan's Point Terminal
(Tuesday, November 10, 2015) Enterprise Products Partners L.P. Monday announced it has executed an additional long-term contract to export ethane from its new terminal under construction at Morgan's Point, Texas.
Ineos Signs US Shale Gas Ethane Deal with Exxon, Shell in Scotland
(Monday, November 09, 2015) Ineos has struck a deal with subsidiaries of ExxonMobil and Shell to supply ethane derived from U.S. shale gas which it is to import into Scotland to their nearby chemical plant, the company said on Monday.
Braskem Says Petrobras Talks Avoiding Variable Naphtha Pricing
(Thursday, November 05, 2015) Braskem and its second-biggest shareholder, known formally as Petroleo Brasileiro SA, reached an interim deal last week extending their naphtha supply contract for another 45 days.
Large Saudi Gas Price Rises Would Damage Chemicals Industry - Tasnee
(Wednesday, November 04, 2015) The chief executive of National Industrialization Co (Tasnee), which has interests in petrochemicals, metals and chemicals, said any big rise in Saudi natural gas prices risked "killing the golden goose".
Fluor Completes Tallest Lift on ChevronPhillips' Cedar Bayou Project
(Wednesday, November 04, 2015) Fluor Corp. announced Tuesday that it has completed the tallest lift on its U.S. Gulf Coast Petrochemicals Project for Chevron Phillips Chemical Company LP.
German Chemical Sector Braces for Flat 2015 Sales
(Tuesday, November 03, 2015) German chemicals trade group VCI said it expected 2015 industry revenue to stagnate, where it had previously seen a 1 percent gain, after weak demand in Europe dragged third-quarter sales lower.
DuPont to Consolidate Businesses within Two Units
(Monday, November 02, 2015) Chemicals and seed maker DuPont said it would consolidate some businesses within two units - one that makes nylon and polyster and another that makes materials such as Kevlar.